Switzerland-based bank adds staking support for Cardano (ADA)
Sygnum Bank expands bank-grade staking with Cardano (ADA). Read this full report
Signum Bank customers will be able to enjoy the investment with Cardano’s ADA because of a new support feature by the Bank.
Cardano is an 8th-ranked crypto project, in terms of 24 hours trade volume of its native token ADA. Cardano entered the crypto industry as a rival of Ethereum blockchain but its popularity is decreasing because the project team is working to make Cardano blockchain highly efficient, instead of following the ongoing trends in the Crypto market. In 2021, Cardano ranked top in the crypto Industry as a highly developed activity shower crypto project.
Through a blog post, on 2 August, Signum Bank announced that it is going to add staking support in its services for Cardano (ADA). So Signum will bring a better environment for the Cardano project lovers.
Bank also claimed that it offers services at the institutional level of security, so basically it will bring a better choice for the big players to go with Cardano in Bank service.
This bank already provides staking for Ethereum (ETH), Internet Computer Protocol (ICP), and Tezos (XTZ). Staking features for these coins are easily accessible via the banking platform of Signum.
The Head of Business Units at Sygnum Bank, Thomas Eichenberger, said that recent years showed that institutional investors’ interest in the crypto industry is surging rapidly and the addition of Cardano staking support will help the Institutional investors to get Bank-grade staking features for crypto assets.
“Sygnum’s bank-grade staking offering, now including Cardano, offers our clients a broad selection of investment opportunities backed by the security and peace of mind of a regulated bank.”
Frederik Gregaard, CEO of the Cardano Foundation, also shared his happiness about the collaboration of the Bank with the Cardano ecosystem. Frederik said that the Cardano ecosystem is better for retail and institutional investors equally and the holders of ADA coins own the full power of how they want to use their holdings. Cardano foundation CEO also confirmed that staking features in the Bank will remain risk-free and also Bank customers will not be required to transfer assets & also ADA coins will not be locked in the Staking phase, which means ADA staking will remain fully user friendly.
Read also: $30M fine on Robinhood crypto exchange
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